Kuldeep Jain | Business Upturn

Apple and CleanMax partner for Rs 100 crore renewable energy investment in India

Business Desk — Thu, 07 May 2026 05:53:26 +0000

Apple and CleanMax have announced a strategic partnership to invest approximately ₹100 crore in renewable energy projects in India. This collaboration aims to accelerate decarbonisation in the country’s Commercial & Industrial (C&I) sector by deploying scaled renewable energy solutions. Clean Max Enviro Energy Solutions Limited, recognised as India’s largest renewable energy provider for the commercial and industrial sector, is at the forefront of this initiative.

The partnership underscores a shared commitment to advancing low-carbon infrastructure and supporting Apple‘s broader carbon neutrality goals. It builds on an existing co-investment relationship between CleanMax and Apple, which has been instrumental in supporting Apple’s operations in India.

Kuldeep Jain, Managing Director and Founder of CleanMax, expressed enthusiasm about the expanded partnership with Apple. He stated, “We are thrilled to expand our partnership with Apple yet again. At CleanMax, we see ourselves as a long-term net-zero partner to corporates, and we are proud to continue working with a company like Apple that continues to push the ecosystem to think bigger, move faster, and build more responsibly.”

This collaboration is part of a broader trend where strategic co-investment models are playing a significant role in accelerating the development of high-quality renewable infrastructure for commercial and industrial consumers. As India continues to emerge as a critical market for renewable energy, such partnerships are expected to drive the next phase of industrial decarbonisation by combining long-term capital, global sustainability ambitions, and scalable clean energy execution.

CleanMax, with its extensive portfolio of renewable energy solutions, including rooftop solar projects, utility-scale solar farms, wind farms, and wind-solar hybrid farms, is well-positioned to support this transition. The company also offers carbon credit solutions and has a substantial customer base, with data centres and AI accounting for 42% of contracted volumes as of the third quarter of FY26.

For more details, refer to https://nr.apple.com/DW0T4z3XP5

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

CleanMax to supply hybrid renewable power to Shell’s LNG terminal and technology centre in India

Kinjal — Tue, 21 Apr 2026 03:12:37 +0000

Clean Max Enviro Energy Solutions Limited (NSE: CLEANMAX | BSE: 544717), a leading renewable energy solutions provider in India, has announced a significant collaboration with Shell India to supply renewable electricity from its hybrid wind–solar projects. This initiative will power Shell’s assets in Gujarat and Karnataka with a combined installed capacity of approximately 30 MW.

In Gujarat, CleanMax is developing a 16.83 MW hybrid renewable energy plant, which includes 6.93 MWp of solar and 9.90 MW of wind capacity. This project, implemented under the group-captive model, will supply renewable power to Shell’s LNG terminal at Hazira. The hybrid configuration aims to support the energy-intensive operations of the LNG terminal, enhancing supply stability and operational resilience.

In Karnataka, CleanMax is setting up a 13.2 MW hybrid renewable energy plant, consisting of 9.9 MWp of solar capacity in Jagalur and 3.3 MW of wind capacity in Honawad. This energy will be supplied to the Shell Technology Centre in Bengaluru, which serves as Shell plc’s third global technology centre. The centre is a state-of-the-art innovation and technology hub with advanced engineering, digital, and pilot testing facilities for current and future energy systems.

Under the group-captive framework, both companies will co-invest in the development of these renewable energy assets, aligning with Shell’s ongoing efforts to lower carbon emissions in India. Kuldeep Jain, Managing Director of Clean Max Enviro Energy Solutions Limited, expressed enthusiasm about the partnership, highlighting its alignment with Shell’s net-zero ambitions and the broader corporate shift towards sustainable energy solutions.

Mansi Madan Tripathy, Chairperson of Shell Group of Companies India and SVP of Shell Lubricants, Asia Pacific, emphasised the importance of hybrid renewable solutions in balancing reliability with the need to decarbonise operations. She noted that the collaboration with CleanMax supports Shell’s efforts to decarbonise its operations and contribute to India’s energy transition.

The projects are expected to generate approximately 66,832 MWh of renewable energy annually, based on the Power Purchase Agreement (PPA).

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

CleanMax partners with Sangam India for 30 MWp solar and 20 MW wind project in Rajasthan

Business Desk — Wed, 15 Apr 2026 02:54:15 +0000

Clean Max Enviro Energy Solutions Limited, India’s leading renewable energy solutions provider, has announced a significant partnership with Sangam India Limited to decarbonise its operations across Rajasthan. Sangam India Limited is a prominent textile entity of the Sangam Group, headquartered in Bhilwara, Rajasthan.

The collaboration involves a hybrid renewable energy supply agreement to provide 30 MWp of solar and 20 MW of wind power, supplemented with a 2 MWh Battery Energy Storage System (BESS), to five Sangam facilities across Rajasthan. The power will be sourced from CleanMax’s Bhikamkor hybrid farm under an intra-state group captive structure, marking a strategic milestone in CleanMax’s national expansion.

CleanMax has established renewable energy projects across Rajasthan, including locations such as Bhikamkor and Bikaner. As of 31 March 2026, the company has 525 MW of operational capacity in the state, catering to a diverse range of corporate and industrial clients.

These projects serve various sectors, including technology, manufacturing, and data centres, showcasing CleanMax’s capability to deliver scalable and reliable renewable energy solutions for energy-intensive operations.

Rajasthan’s high solar irradiation and robust wind potential make it an ideal hub for hybrid renewable development. By integrating solar and wind generation with storage, these projects offer a more stable and predictable energy supply across day-night cycles.

By supplying renewable power to Sangam’s textile facilities, CleanMax is aiding the decarbonisation of the manufacturing sector while ensuring reliable energy supply. The project aligns with Rajasthan’s progressive regulatory framework, led by the Rajasthan Electricity Regulatory Commission (Terms and Conditions for Green Energy Open Access) Regulations, 2025, which facilitate open access procurement and enable hybrid renewable projects with storage.

Mr. Kuldeep Jain, Managing Director of Clean Max Enviro Energy Solutions Limited, stated, “Our expansion into Rajasthan marks an important milestone in CleanMax’s national expansion. This reflects our long-term growth strategy of building high-quality projects across key industrial clusters. The partnership with Sangam India Limited strengthens our geographic and customer portfolio with round-the-clock power.”

Mr. S.R. Dakhera, Chief Financial Officer of Sangam India Limited, commented, “With a global footprint, for a manufacturing-led business like ours, operations and sustainability must move in tandem. As a group, we aim to become one of the most sustainable companies in the Indian textile sector. This collaboration with CleanMax allows us to access hybrid renewable energy backed by storage, supporting stable operations across multiple facilities while advancing our long-term decarbonisation roadmap.”

Through projects like this, CleanMax reinforces its position as a trusted net-zero transition partner, supporting energy-intensive industries in moving toward decarbonisation.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

CleanMax commissions 185 MW wind-solar hybrid project in Gujarat

Arunika Jain — Tue, 07 Apr 2026 10:35:21 +0000

Clean Max Enviro Energy Solutions Limited (NSE: CLEANMAX | BSE: 544717), India’s leading renewable energy solutions provider for the commercial and industrial sector, has announced the commissioning of a 185 MW hybrid renewable energy project at Kalavad, Gujarat. This development marks a significant expansion of CleanMax‘s clean energy portfolio in the state, integrating both solar and wind capacities.

The Kalavad project, developed over approximately 12 months, supplies green energy to 17 corporate customers. These customers are served under the group captive model, which allows them to invest equity in the project and secure long-term access to clean energy. Notable companies such as Apar Industries Limited and Borosil Renewables Limited are among the project’s beneficiaries.

With this addition, CleanMax’s total operational capacity in Gujarat has reached approximately 844 MW as of March 31, 2026. The project is expected to contribute upwards of ₹165 crore annually to the company’s revenue base in FY2027 once stabilised. This is supported by 25-year fixed-tariff Power Purchase Agreements (PPAs) with the customers, ensuring stable cash flows over the project’s lifecycle.

Mr. Kuldeep Jain, Managing Director of CleanMax, highlighted Gujarat’s pivotal role in India’s industrial decarbonisation efforts, stating, “Gujarat leads India’s industrial decarbonisation push. This is where clean energy policies, demand, and economics line up. We’ve had skin in the game here for years, building and operating assets across the state. Kalavad builds on that experience, bringing multiple customers onto a single hybrid platform to deliver reliable clean power for businesses that run round the clock.”

Once fully operational, the Kalavad project is anticipated to offset approximately 3.61 lakh tonnes of CO₂ emissions annually, equivalent to the environmental benefit of planting nearly 20.9 million trees each year. This aligns with India’s broader decarbonisation goals.

In the financial year 2024-25, CleanMax reported a revenue of ₹3,426 million from Gujarat, accounting for about 30% of its renewable energy power sale revenue. This underscores the strategic importance of the region in the company’s overall portfolio.

Gujarat remains a key market for renewable energy in the commercial and industrial segment, bolstered by strong industrial demand and favourable open-access policies for hybrid power supplies. Recent regulations by the Gujarat Electricity Regulatory Commission (GERC) have further enhanced access and clarified banking provisions, facilitating better utilisation of renewable power by commercial and industrial consumers.

At the company level, CleanMax’s operational energy sale capacity now stands at 3.1 GW as of March 31, 2026, spanning multiple states and supporting a diverse customer base.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

CleanMax and STT GDC India expand renewable energy partnership beyond 130 MW

Yash Agarwal — Wed, 01 Apr 2026 02:31:21 +0000

CleanMax and STT GDC India have announced an expansion of their renewable energy partnership, pushing their collaborative efforts beyond 130 MW. This development includes a new 21 MWp solar addition, enhancing the existing wind-solar hybrid power supply to STT GDC India’s data centres in Chennai, Tamil Nadu.

The partnership aims to provide reliable, round-the-clock hybrid power across key data centre hubs in Tamil Nadu and Maharashtra. As part of the agreement, STT GDC India will increase its contracted green energy capacity with a 26% equity investment in the renewable energy project.

This collaboration reflects a strategic approach by data centre operators to integrate solar and wind energy, ensuring a consistent renewable energy supply critical for AI-led workloads that demand higher energy consumption.

Kuldeep Jain, Managing Director of Clean Max Enviro Energy Solutions Limited, emphasised the importance of integrating renewable energy at scale to ensure long-term competitiveness and resilience. He stated, “Our expanding partnership with STT GDC India reflects a broader shift among leading digital infrastructure service providers to embed clean energy into their core business strategy.”

Bimal Khandelwal, CEO of STT GDC India, highlighted the importance of matching digital growth with responsibility. He noted, “Our expanded partnership with CleanMax strengthens our ability to secure renewable energy at scale, supporting the rising intensity of AI-led and high-density workloads.”

The partnership further consolidates CleanMax’s role in powering India’s digital infrastructure, with the AI and data centre segment accounting for approximately 42% of its 5.7 GW contracted capacity. This represents a significant expansion over the past two years, underscoring CleanMax’s position as a key player in supporting the transition towards a sustainable, net-zero future.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Clean Max Enviro Energy Solutions reports 1.3 GW operational capacity addition in 11 months

Arunika Jain — Wed, 18 Mar 2026 03:41:34 +0000

Clean Max Enviro Energy Solutions has announced a significant milestone in its renewable energy operations, achieving an addition of 1.3 gigawatts (GW) of operational capacity within an 11-month period. This achievement underscores the company’s leadership in the commercial and industrial (C&I) renewable energy market in India.

The company, which began its journey in 2010, has now reached a contracted capacity of 6.45 GW, serving over 570 customers. Clean Max Enviro Energy Solutions has recently listed on India’s public markets, marking another significant step in its growth trajectory.

The renewable energy market for C&I consumption in India is vast, with a market size of approximately ₹2.7 lakh crore for power generation alone, and an annual growth forecast of 6-8%. Currently, less than 10% of India’s 750 billion units of annual corporate power consumption is sourced from bilaterally procured renewable energy. Corporates are increasingly turning to green energy solutions to save on energy bills and meet ESG and carbon footprint goals.

Clean Max Enviro Energy Solutions is capitalising on the growing demand for clean energy, particularly from the AI and data centre sectors. The company reports that 42% of its renewable power sales contracted capacity is now dedicated to data and AI customers, with global technology companies making up its largest customer base.

The company follows a mission-driven approach, focusing on being the ‘Net Zero Partner’ for corporates. Its business model includes a diverse range of offerings such as rooftop solar, offsite solar farms, wind and wind-solar hybrids, integrated energy storage, environmental attribute offset deals, and carbon credits trading.

Clean Max Enviro Energy Solutions is also committed to delivering superior capital returns through execution excellence. The company has a proven track record in the C&I sector, maintaining high capital productivity and improving its credit rating from BBB- in 2021 to A+ currently.

Looking ahead, the company has set ambitious goals for the next three years. These include scaling its C&I renewables operations, leading the energy transition for data and AI sectors, building a comprehensive ‘Net Zero’ suite, and advancing capital efficiency.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

This article is written by Arunika Jain and reviewed by Aman Shukla before publication.